【银行理财】公募新规影响银行理财，中小银行“抱团”申设理财子能否突围？——银行理财周度跟踪（2025.9.1-2025.9.7）

Key Points - The article discusses the impact of new public fund sales fee regulations on bank wealth management products, highlighting a dual effect on the liability and asset sides of banks [7][8] - It mentions the ongoing trend of banks in Sichuan province applying for wealth management subsidiary licenses, which could signify a restart in license approvals and provide a model for small and medium-sized banks [9][10] - The article notes the rising gold prices and how wealth management companies are launching gold-linked products to capitalize on this trend [11][12] - It outlines various innovations in the industry, including new product offerings from banks that leverage technology and quantitative models for investment selection [13][14][15][17] Regulatory and Industry Dynamics - The new public fund sales fee regulations were released on September 5, 2025, aiming to lower fees and optimize redemption arrangements, which will likely attract investors to bank wealth management products [7][8] - Several banks in Sichuan are actively pursuing joint applications for wealth management subsidiary licenses, which could enhance resource utilization and improve competitive dynamics in the industry [9][10] Market Performance - Cash management products recorded a 7-day annualized yield of 1.30%, while money market funds yielded 1.18%, both showing a slight decline [18] - The bond market continues to exhibit a volatile pattern, with short-term rates remaining stable and long-term rates fluctuating due to market sentiment [21][22] Innovations in Wealth Management -浦银理财 has introduced a technology-driven product using a "Five Forces" model to evaluate tech companies [13] - 招银理财 has developed a global asset allocation index that incorporates momentum factors for diversified investment [14] - The collaboration between 招银理财 and 中诚信 has led to the creation of a defensive index aimed at capturing low-volatility stocks [15] - 交银理财 has launched a multi-strategy asset allocation index that aims to balance risk and return across different market conditions [17]